AstraZeneca to buy China's Gracell Biotechnologies in $1.2b deal

AstraZeneca to buy China's Gracell Biotechnologies in $1.2b deal

FILE PHOTO: The logo for AstraZeneca is seen outside its North America headquarters in Wilmington, Delaware, U.S., March 22, 2021. REUTERS/Rachel Wisniewski/File Photo

AstraZeneca said on Tuesday it will buy Gracell Biotechnologies for up to $1.2 billion as the Anglo-Swedish pharma company furthers its cell therapy ambitions and boosts its presence in China, the world’s second-largest pharmaceuticals market.